“When folks drive down Hermitage Road come March and April… they’ll see some fences up and they’ll see some signs up for what’s coming,” McLaughlin said. “They’ll see a whole bunch of big machines moving buildings and dirt.”
The lawsuit’s ultimate goal is to allow the Chesterfield-based lender to take possession of the real estate, likely through foreclosure, and then sell it off to help pay down the $6 million loan balance.
“I don’t have any problem turning it loose,” said Louis Heindl, who has since the 1970s owned the one piece of the island the city didn’t buy. “If the right offer came along, I would strongly consider selling it.”
“We’re typically fairly modest about these sorts of things, but we really just flat-out nailed it on our space,” founder Jay Hugo said of 3North’s renovation of the former Boy Scouts of America building on Fitzhugh Avenue.
The former home base of a once-fast-growing local e-cigarette company has been purchased by Richmond’s tobacco king.
“We feel we have the perfect use for a very unique building,” a Thalhimer exec said of the plan to convert the 124-year-old hydro plant into a venue with padel courts, pickleball courts and a food-and-beverage component.
The deal, which closed just before year’s end, equates to $158,000 per door and marks the largest apartment sale in the region in 2023.
The company has at least three other hotels in the works across Chesterfield and Henrico. Its portfolio now counts nearly three dozen hotels.
The firm, in addition to taking a minority ownership stake, is also now asset manager for the 73-room Ukrop family-owned boutique hotel.
The office and warehouse buildings would add more than 250,000 square feet of industrial space off Williamsburg and Charles City roads.
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